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I think your ideas are worth pursuing. Just because the information is 'kind of' available in one format doesn't mean you can't make your own unique contributions.
Remember that what you'll find on FFXIV on the web is somewhere between 8 years old (and sadly dated) and so recent the web ink hasn't yet dried.
All depends why you’re doing it. You’re not going to create the new FF14 go to Wikipedia but is it fun for you? Then absolutely do it.
Enemies that have been removed before you play you’re not going to miss, and you can update the book with any changes. I personally don’t really remember too many enemies having been entirely removed from the game although I’m sure there has been some. But don’t let that stop you having fun.